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St. Mary’s County LOSAP posts 1.2% Q1 return; board approves $300,000 rebalancing into bonds and real assets
Summary
At its June 27 meeting the St. Mary’s County Length of Service Award Program (LOSAP) board accepted Marquette Associates’ first-quarter performance report showing a 1.2% Q1 return and approved a $300,000 rebalancing that trims international equity and money-market holdings in favor of fixed income and real estate securities.
The Length of Service Award Program (LOSAP) board for St. Mary's County accepted Marquette Associates’ first-quarter investment report and approved a recommended rebalancing on June 27, moving $300,000 into bonds and real estate-focused securities.
Marquette Associates’ investment consultant said the LOSAP trust returned 1.2% in the first quarter, slightly ahead of its policy benchmark. “We did note that The US economy contracted in q 1. The initial estimate for real economic growth came in at an annualized pace of negative point 3%,” the consultant said while reviewing the report and market context. The consultant attributed quarter-to-quarter volatility to tariff-related distortions in trade data, divergent economist forecasts and shifting market expectations about Federal Reserve rate cuts.
The nut graf — why this matters: the trust’s market value and portfolio mix drive actuarial funded ratios and long-term payout assumptions for the program. Marquette reported the trust’s market value…
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